No wrapped tokens, no cross-chain bridges: Here’s how DeFi can work on Bitcoin [AD]
), the original cryptocurrency with the largest market cap, continues to lead the crypto market — to both the green and red. Even though the crypto space gave birth to quite a few projects, the rest of the herd is no match for the brainchild of Satoshi Nakamoto for financial transactions. model used for the Bitcoin blockchain enables BTC to act much like a paper currency, resulting in superior security and robustness as a peer-to-peer currency.
Mintlayer, on the other hand, uses atomic swaps to allow a 1:1 transaction from native Bitcoin to tokens on the Mintlayer blockchain, effectively removing the need for any wrapped tokens or token bridges. This way, Bitcoin owners can use their BTC to give different DeFi use cases a go. “DeFi is a trust-minimizing technology. When code replaces humans, it is incorruptible, taking human error out of the equation as much as possible. We are still early for that, both in terms of regulation and technology, but this is why Mintlayer exists.”
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